Hologic (HOLX) Price Target Raised to $46.00 at Royal Bank of Canada

Hologic (NASDAQ:HOLX) had its target price hoisted by investment analysts at Royal Bank of Canada from $40.00 to $46.00 in a research note issued on Friday, The Fly reports. The brokerage presently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 3.58% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently issued reports on the company. BidaskClub raised Hologic from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 21st. Zacks Investment Research raised Hologic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Canaccord Genuity reaffirmed a “hold” rating and set a $43.00 target price on shares of Hologic in a research report on Thursday, November 8th. Piper Jaffray Companies decreased their target price on Hologic to $45.00 and set an “overweight” rating for the company in a research report on Thursday, November 8th. Finally, Morgan Stanley decreased their target price on Hologic from $47.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, October 11th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.53.

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Shares of Hologic stock opened at $44.41 on Friday. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.05 and a beta of 0.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.95. Hologic has a 12-month low of $35.10 and a 12-month high of $45.09.

Hologic (NASDAQ:HOLX) last announced its earnings results on Wednesday, November 7th. The medical equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The company had revenue of $813.50 million for the quarter, compared to the consensus estimate of $808.63 million. Hologic had a positive return on equity of 23.52% and a negative net margin of 3.46%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. As a group, equities analysts predict that Hologic will post 2.4 EPS for the current fiscal year.

In other news, Director Christiana Stamoulis sold 30,967 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $40.70, for a total value of $1,260,356.90. Following the completion of the sale, the director now directly owns 66,006 shares of the company’s stock, valued at $2,686,444.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Karleen Marie Oberton sold 1,312 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $41.90, for a total value of $54,972.80. Following the completion of the sale, the chief financial officer now directly owns 10,206 shares of the company’s stock, valued at $427,631.40. The disclosure for this sale can be found here. Insiders sold 69,276 shares of company stock valued at $2,866,902 over the last three months. 0.79% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Hologic by 0.5% in the first quarter. Principal Financial Group Inc. now owns 406,319 shares of the medical equipment provider’s stock worth $15,180,000 after purchasing an additional 2,131 shares during the period. BNP Paribas Arbitrage SA lifted its position in Hologic by 152.2% in the second quarter. BNP Paribas Arbitrage SA now owns 137,136 shares of the medical equipment provider’s stock worth $5,451,000 after purchasing an additional 82,750 shares during the period. Eqis Capital Management Inc. lifted its position in Hologic by 20.2% in the second quarter. Eqis Capital Management Inc. now owns 19,801 shares of the medical equipment provider’s stock worth $787,000 after purchasing an additional 3,333 shares during the period. Piedmont Investment Advisors LLC bought a new position in Hologic in the second quarter worth $127,000. Finally, BP PLC bought a new position in Hologic in the second quarter worth $1,431,000. 97.12% of the stock is owned by institutional investors.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. The company operates through five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.